Cécile Nagel, Chief Executive Officer of EuroCCP, said:
We believe this transaction positions EuroCCP for continued success. In addition to building out our derivatives clearing services, we see many opportunities to collaborate with Cboe to expand our product offering across asset classes. With our shared values and focus on innovation and client service, together with Cboe we can do even more to advance capital markets in Europe.
Cboe plans the launch of Cboe Europe Derivatives in the first half of 2021 which is expected to initially offer trading in equity futures and options based on six Cboe Europe Indices: the Cboe Eurozone 50, Cboe UK 100, Cboe Netherlands 25, Cboe Switzerland 20, Cboe Germany 30, and Cboe France 40 – all calculated using Cboe market data. Cboe plans to also add futures and options on additional European benchmarks later on, based on customer demand. EuroCCP will provide clearing services for Cboe’s platform.
Industry veteran Ade Cordell who has been in charge Cboe’s expansion into European derivatives since earlier this year, was appointed as President of Cboe NL. Cboe’s Netherlands-based exchange was launched in October 2019 and will be the future home to Cboe Europe Derivatives.
Ade Cordell, President of Cboe NL, said:
There is an opportunity to improve the existing European derivatives market structure and unlock its true potential through the creation of a transparent, efficient, lit pan-European market. Our panEuropean model will enable all market participants to access a modern derivatives market through a single access point, creating efficiencies in trading and clearing.
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